U.S. Gasoline Average Falls 12 Cents to $4.42 as Iran Talk Reports Push Oil Lower
Updated
Updated · gasprices.aaa.com · May 28
U.S. Gasoline Average Falls 12 Cents to $4.42 as Iran Talk Reports Push Oil Lower
7 articles · Updated · gasprices.aaa.com · May 28
$4.42 per gallon marked the U.S. average for regular gasoline on May 28, down 12 cents from a week earlier as reports of peace talks with Iran eased crude prices.
WTI crude dropped $5.21 to $88.68 a barrel, even as the ceasefire outlook remained fragile and could quickly reverse the decline if talks fail.
EIA data showed gasoline demand rose to 9.25 million barrels a day from 8.76 million, while domestic supply fell to 211.6 million barrels from 214.2 million.
Prices still remain high for drivers—up from $4.18 a month ago and $3.16 a year ago—and are likely to stay elevated as the summer driving season begins.
Gas prices fell on peace talks, but will this fragile truce survive the summer driving season?
With emergency oil reserves at a 40-year low, is America prepared for the next supply crisis?
Iran now controls a key oil chokepoint. Is this the new reality for global energy supply?